Global ETF News Older than One Year
Average daily volume of 9.6 million contracts at Eurex Group in March
April 1, 2015--In March, the international derivatives exchanges of Eurex Group recorded an average daily volume of 9.6 million contracts (March 2014: 9.4 million). Of those, 7.3 million were Eurex Exchange contracts (March 2014: 7.0 million), and 2.3 million contracts (March 2014: 2.4 million) were traded at the U.S.-based International Securities Exchange (ISE).
In total, 159.8 million contracts were traded at Eurex Exchange and 50.0 million at the ISE.
Source: Eurex
Emerging markets: The great unravelling
April 1, 2015--Developing economies are suffering their biggest capital outflows since the financial crisis
Faced with recession, decade-high inflation, a fiscal crisis and water rationing, more than 1m Brazilians took to the streets last month to protest against corruption and mismanagement in their government.
Source: FT.com
Buy Side, Sell Side Redefine Relationship
April 1, 2015--The buy side is looking to the sell side for help in navigating a new market structure characterized by lit and dark venues, algorithmic and high-speed trading, complex order types, and fragmentation.
The starting point for the conversations that are taking place is the fact that "at the heart of it, there’s a commercial relationship between the buy side and the sell side, where the buy side wants to obtain products and services that the sell side provides, whether it be research, execution, prime brokerage, or ...
Source: Markets Media
India tax uncertainty entangles FPIs
April 1, 2015--Optimism around tax clarity in India could be short-lived. A little-noticed exemption in India's budget means foreign investors could be liable for minimum alternate tax (MAT) -and it could apply retroactively.
Initially foreign investors were optimistic about the budget proposals, which included the deferral of the General Anti-Avoidance Rules (Gaar) and reduced the corporate tax rate.
Source: International Finance Law Review
Germany's DAX logs best quarter in more than a decade
March 31, 2015--If you missed the German DAX 30 index in the first quarter, you've missed out.
The benchmark DAX, logged a 22% gain, which not only exceeds the performance of almost any other index in Europe and the U.S., but also marks the strongest quarter since the three months to June 2003.
Source: MarketWatch
ETFS Research Note-Research: Platinum and Palladium-Fundamentally Undervalued
March 31, 2015--Summary
Despite falling 2.5% since the beginning of the year, precious metals are the best performing commodity sub-sector year-to-date.1
Contrary to our expectations, PGMs ("Platinum Group Metals") lagged behind, with platinum falling by almost 8% and palladium decreasing by 2.5% over the period.
The strong appreciation of the US Dollar against major currencies, particularly against the Euro, did not bode well with commodity prices that tend to be negatively correlated with the US currency.
Going forward we expect PGM prices to recover, as sentiment improves and investors return to focus on tighter fundamentals.
Source: ETF Securities Research
Deciphering Developing Markets-Lithuania's Opposition to Russia | Brazilian Turmoil|Nigeria: What to Watch For
March 31, 2015--Hats off to Lithuania and in particular their foreign minister, Linas Linkevicius. According to a WSJ.com article, at a recent gathering of EU foreign ministers in Brussels, the ministers spoke with "caution" about Russian aggression in the Ukraine.
"Then Linas Linkevicius, Lithuania's husky, rumpled foreign minister, stepped to the microphone. 'We can't trust a single word of the Russian leadership,' he barked. 'It's worthless.' As for Moscow's pledges to help end the violence in Ukraine-'Statements are worthless.' The European Union, he suggested, was removed from 'reality'.
Source: DMS Funds
Compliance table on ESMA Guidelines on the enforcement of financial information
March 31, 2015--ESMA has published Guidelines on the enforcement of financial information.
view the Guidelines on the enforcement of financial information (ESMA/2014/1293)
Source: ESMA
ETF Securities Precious Metals Weekly-Fed Tightening-Another Consensus to Fade?
March 30, 2015--Who might be wrong? Most of the world is trying to fight deflation on an unprecedented scale, yet
the Federal Reserve's (Fed) rhetoric continues to focus on hiking rates soon to fight inflation. Declining
bond yields indicate the bond market appears more focused on disinflation. Can they both be right?
There may be an ulterior Fed motive? Last week, St. Louis Fed President James Bullard hinted at the true reason for Fed official tightening rhetoric, "raise rates or face devastating bubbles". Beware of consensus views. At the beginning of 2014, increasing bond yields and commodity prices were consensus views.
What did that consensus miss that they might be missing now? The market may not conform to the latest Fed tightening consensus.
Source: ETF Securities
Cantor Fitzgerald Adds Veterans to Emerging Markets Debt Capital Markets Team
March 30, 2015--Cantor Fitzgerald, a leading global financial services firm, today announced the expansion of its Emerging Markets Debt Capital Markets sales and trading team with the appointments of Dray Simpson, Alex Yulman and Michael Barfoot as Managing Directors.
Mr. Simpson will be based in London and Mr. Yulman and Mr. Barfoot will be based in New York.
Source: Cantor Fitzgerald
